Will Bellway break support, or will it rise again back to 3438p?

• Rising support since February; bounced 5 times
• Now trading 3126p (at time of writing)
• Will the pattern repeat itself, bouncing up again towards 3438p?
• Shares -3.4% from 2019 highs; +26.4% from 2019 lows; +24.2% year-to date
• 27 Mar: First half pretax profits rise on the back of higher revenues
• Source: Bloomberg, FT, Reuters, DJ Newswires

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Trading Bellway – An Example

Let’s say you like the range, you think it’s heading back towards 3438p again. You decide to buy exposure to £10,000 worth of Bellway using a CFD, at the current price of 3126p. To do this, you need £2,000.

Let’s assume Bellway recovers back to 3438p (+9.9%). Your profit would be £990, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss 3% from the current price. Bellway falls 3% and hits your stop-loss. Your loss would be £300.

This is provided for information purposes only. It should not be taken as a recommendation.